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Are Hotels Finally Ready to Embrace Attribute-Based Selling?
Jos Schaap | August 18, 2020
By Jos Schaap Hotels have gone through many changes over the years. However, one thing that has barely changed is the industry's attitude towards room distribution. The way in which hotel rooms are sold today, and have been for the past 20 years, has remained relatively the same. With the current model the guest journey is essentially made of a few specific moments. The consumer begins by choosing a hotel and stay date and receives a list of rates. These rates correspond to combinations of room types and rate plans and each combination has a price. Similarly, both the room type and rate have their own attributes attached such as max gue
How to Stay Safe While Staying Open
Christopher Horn | August 18, 2020
Six best practices for protecting your people and those you serve By Christopher Horn Deciding to close or remain open during a pandemic can be one of the most difficult decisions a hotel company will ever have to make, especially if multiple assets are involved. Many factors need to be analyzed, including the financial, brand, and human resources sides of the business to determine which action is the most fiscally responsible. At Sixty Hotels, we are “Always Open” to show our customers that we are there for them in good times and bad, no matter what. This is especially challenging considering that our hotels are in the heavily pop
Maestro PMS Helps Keep Hotel Workers Safe Via a ‘Use Your Own Device’ Guest Digitalization Strategy
Maestro PMS | August 18, 2020
Leader in hospitality property-management systems identifies five ways hoteliers can provide a high-quality guest experience while simultaneously protecting their people MARKHAM, ONTARIO, August 18, 2020 — Safety and security are top of mind for hotel operators as they strive to protect their staff amidst today’s challenging and ever-changing travel landscape. Maestro PMS, hospitality’s leading provider of cloud hosted, private cloud and on-premise property-management systems for independent and luxury resorts, conference centers, vacation rentals, and multi-property groups, is enabling guests to self-serve from their phone, tablet o
Annual Hotel Occupancy Forecast to Decline 29% Over the Next 12 Months With $75 Billion in Projected Revenue Losses
Horwath HTL | August 17, 2020
Magid HTL Forecast Tracker, analyzed in conjunction with Horwath HTL, says COVID-driven declines span both business and leisure travel intentions MINNEAPOLIS, August 17, 2020 – The ongoing impact of the COVID-19 pandemic will lead to a 29% decline in annual hotel occupancy over the next 12 months, resulting in a projected revenue loss for the industry of about $75 Billion in room revenue alone. The estimate is according to the Magid HTL Forecast Tracker, analyzed in conjunction with Horwath HTL, the world’s oldest, largest, and most experienced hotel, tourism, and leisure-consulting brand. The forecast shows declines being driven
The Owner’s Obligation – Cash
Robert Mandelbaum | August 17, 2020
By Robert Mandelbaum The COVID-19 virus has had an extreme negative impact on the U.S. lodging industry. According to CBRE’s June 2020 edition of Hotel Horizons®, lodging demand in the U.S. will decline by 37.0 percent in 2020. This will cause a 38.0 percent drop in the national occupancy level, along with a 22.5 percent fall in average daily room rates (ADR). The net result is a projected 51.9 percent fall off in revenue per available room (RevPAR) for the year. Using historical data from the CBRE Trends® in the Hotel Industry database of operating statements, the most likely consequence of a 51.9 percent RevPAR decline is a G
Top Considerations for Hotel Balance Sheets During COVID-19 and Beyond
August 17, 2020
One of the many impacts of the ongoing COVID-19 pandemic is that it has highlighted the importance of working capital. "Cash is King" is all the more irrefutable as industries worldwide struggle to meet lenders’ and creditors' demands. With companies lacking reliable forecasts, more investors now gauge performance based on balance sheet metrics, namely debt levels, asset liquidity, covenants and stable cash flows. These are now, more than ever, favoured by owners and investors to assess if management can keep meeting obligations during the crisis. Balance sheets deserve more attention and are an often-overlooked financial statement. Whi
Marriott International Announces Opening of First Fairfield Inn by Marriott in Peru
Marriott International | August 17, 2020
Fairfield by Marriott, one of Marriott International's 30 global brands, will now also be represented in Peru with the opening of the new Fairfield by Marriott Lima Miraflores, located in Lima's main tourist district. Building upon its strong heritage from the Marriott family retreat, the Fairfield Farm, and creating an environment that focuses on the warmth and simplicity of delivering an inviting and seamless experience, the hotel looks forward to welcoming guests visiting Lima for business or pleasure with friendly service and warm, inviting spaces offering respite from everyday committments. The experience continues to be backed by the
Quality Hotel Supply Is the Key to Developing Fledgling Tourist Destinations
Mandeep S. Lamba | August 17, 2020
By Mandeep Lamba, Dipti Mohan India is one of the fastest growing travel & tourism (T&T) economies in the world thanks to its diverse landscape, rich heritage and cultural diversity, which attracts tourists from across the country and the world. Recognizing the importance of the T&T sector in economic growth, the Government of India (GoI) has introduced several initiatives to promote the sector including strengthening of road, rail and air connectivity to tourist destinations in the past couple of decades. For instance, the number of operational airports in the country have increased significantly from 50 in 2000 to 137 in 2019